Cxense ASA announces second quarter and first half 2018 results
Oslo, Norway - 22 August 2018 - Cxense ASA today reported financial results for the second quarter and first half ending 30 June 2018.
Highlights:
- Strong growth for core DMP and Personalization segment
- 22% YoY and 2% sequentially
- 44% gross growth, partly offset by churn
- Churn declined from previous quarter, however still above long-term target
- Strengthened product offering
- Improved DMP post Enreach acquisition
- Strong interest for new Conversion Engine
- Strong international leadership team in place with appointment of new CTO, CPO and CCO
- 79% reported gross margin
- Impacted by investment in EU based data center increasing hosting capacity by 33%
- Q2 2018 EBITDA of USD -0.5 million
- Funded through break-even
- Churn improvement program and cost reductions ongoing
Christian Printzell Halvorsen, CEO of Cxense, commented:
“We strengthened our leading data management platform and personalization software offering in the second quarter with investments in our Conversion Engine and the Enreach acquisition. Both important steps for us which has led to increasing interest from existing and new clients seeking to use data for personalization and subscription optimization. We closed several new, large contracts in line with our strategy to serve more advanced customers, and we delivered another EBITDA in line with our post-restructuring target”
Material: The Q2 2018 report and presentation are attached to this notice and can also be found under the following link: https://www.cxense.com/investors/financial-reports
Webcast/presentation: Cxense ASA will present its Q2 and half year results today at 08:30 CET at the Felix Conference Center, Bryggetorget 3, Oslo, Norway. A live webcast will be available at: http://webtv.hegnar.no/presentation.php?webcastId=92031776
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Email: ir@cxense.com
Mobile: +47 90 66 00 62